3150 Polk St Houston, TX 77003
Medical Office Space
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Entity Owned
Absentee Owner
~
Est. High Equity
For Lease
1 / 24
Contact for pricing
3150 Polk St, Houston, TX 77003
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Estimated value (blended)
$560k
Range $504k – $616k (±10%)
Property ID
US82-4390267
Property summary
AI-generated overview
The property consists of 0.8033 acres of land and includes 5,591 rentable square feet of medical office space. It is located in East Downtown, within walking distance of the Leeland/Third Ward Light Rail Station. The interior is fully built out as a dialysis clinic, indicating a specialized medical office layout.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2005
Construction
WOOD FRAME
Total area
5,605 SF
Lot
0.8 ac (34,992 SF)
APN
1260290010001
UPID
US82-4390267
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Medical Clinic
-
Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$545k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$569k
Blend (final)
Blend
$560k
Owner & transaction history
Zoning & alternative use
Top alternative use upside
Auto repair, garage
$835,000
+134.0%
Commercial (general)
$715,000
+99.3%
Restaurant
$500,000
+39.3%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
6 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$560k
Value range
$504k – $616k
±10% around blend
Estimated value / SF
$100 / SF
Confidence
Property data
88
Comparable evidence
60
Income certainty
100
$504k
blend $560k
$616k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
5,605 SF
Lot area
0.8 ac
Year built
2005
Stories
1
APN
1260290010001
Assessed value
$3,553,689
Annual tax
$71,200
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$71,200
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$569k
Range $168k – $569k
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$560k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+134%
vs current-use indication
Commercial (general)
Restaurant
Apartment House (5+ Units)
Retail Stores
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
241,529.63%
Selected cap rate for this medical office space
Derived from the Houston market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$65k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$26
Move the market yield to see immediate price impact.
Value / SF
$0
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
241,529.13%241,529.63%241,530.13%
$59k
$24
$24
$24
$65k
$27
$26
$26
$72k
$29
$29
$29
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$71,200
Tax year 2022
Assessed value
$3,553,689
Assessed 2024
Previous assessed
$3,533,823
+0.6% YoY
Effective rate
2.00%
On assessed value
Assessed land
$2,099,400
Assessed improvement
$1,454,289
Land market value
$2,099,400
Improvement market value
$1,454,289
Total market value
$3,553,689
Applied tax rate
1.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2005
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
5,605 SF
Lot
0.8 ac (34,992 SF)
APN
1260290010001
UPID
US82-4390267
Jurisdiction
HARRIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
0.8 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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